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From Juliana Taiwo-Obaloneye, Abuja
Nigeria and Barbados have signed agreements towards the establishment of a $32 million pharmaceutical manufacturing plant in the Caribbean country, with a projected annual production capacity of 12 million units of intravenous (IV) fluids and a target commencement date of 2029.
The project, which will bring together Nigerian pharmaceutical manufacturing expertise, Caribbean investment and financing support from the African Export-Import Bank (Afreximbank), is expected to strengthen the supply of essential medical products, reduce dependence on imports and deepen economic cooperation between Africa and the Caribbean.
The agreements were signed on November 3 on the sidelines of the 2026 Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda, through a Memorandum of Understanding between Barbados Pharmaceutical Inc. (BPI) and Nigerian pharmaceutical manufacturer AMA Medical Manufacturing, alongside a project preparation facility term sheet between AMA and Afreximbank.
Although the proposed investment is valued at $32 million, the full financing package has yet to be secured, while feasibility studies, regulatory approvals and construction arrangements must be completed before production can commence.
Secretary to the Government of the Federation (SGF), George Akume, who represented Nigeria at the event, said the partnership demonstrated the commitment of both countries to expanding industrial cooperation, strengthening healthcare production and creating opportunities for trade, technology transfer and skills development.
“By bringing together Nigerian manufacturing expertise and Caribbean investment opportunities, we can strengthen healthcare production, expand trade and create new pathways for technology exchange and skills development, amplifying the potential of South-South Cooperation,” Akume said.
Barbados Prime Minister, Mia Amor Mottley, described the initiative as a major step towards strengthening economic resilience and healthcare security in the Caribbean, noting that collaboration with African countries offered opportunities to develop productive capacity and reduce dependence on external supply chains.
“Barbados may be a small island state, but our ambitions for our people and our region are not small.” Mottley said the agreement reflected the determination of African and Caribbean countries to build on their historical ties and establish a common economic future through investment, industrial development and sustainable partnerships.
Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, welcomed the initiative, describing it as an example of “re-globalisation in action” and a practical response to vulnerabilities exposed by the COVID-19 pandemic.
According to her, the pandemic demonstrated the dangers of concentrating the manufacture of essential medical products in a limited number of countries, underscoring the need to diversify production and build more resilient international supply chains.
She said the proposed pharmaceutical facility would demonstrate how trade and investment could connect African manufacturing capabilities with Caribbean markets, promote industrial development and improve access to critical healthcare products.
Okonjo-Iweala disclosed that the project had received initial support from the WTO Secretariat, which regarded it as an opportunity to promote trade through improved regulatory frameworks and diversification of essential medical supplies.
Senior Executive Vice-President of Afreximbank, Denys Denya, said the investment formed part of the bank’s expanding engagement with Caribbean countries, which gathered momentum during the COVID-19 pandemic when the institution supported efforts to improve access to vaccines.
He explained that the proposed financing arrangement would extend beyond the initial project preparation facility to include senior debt, working capital and risk-bearing instruments necessary to establish a commercially viable manufacturing operation.
Denya said the initiative would help Caribbean countries develop local capacity for producing essential medicines, strengthen healthcare sovereignty, facilitate technology transfer and create skilled employment opportunities.
Chairman of AMA Holdings, Abdullahi Musa Bello, said the partnership would enable the Nigerian pharmaceutical manufacturer to extend its manufacturing operations into a new market while contributing to the industrialisation of the Caribbean healthcare sector.
He explained that the company’s priority was to establish a commercially sustainable facility supported by technical expertise, reliable supply chains and access to markets capable of sustaining production over the long term.
Acting Chief Executive Officer of Barbados Pharmaceutical Inc., Cindi Lewis, said the immediate challenge was to translate the agreements into a functioning manufacturing operation, stressing that technical, commercial and financial assessments would determine the project’s implementation.
The proposed facility will initially concentrate on IV fluids, which are widely used in hospitals and other healthcare facilities, with the possibility of expanding into additional pharmaceutical products following technical, commercial and regulatory evaluations.
Under the arrangement, Afreximbank’s proposed project preparation facility will support feasibility studies and other technical, commercial and financial assessments required to establish the project’s viability, determine its financing structure and prepare it for investment.
The partnership builds on existing pharmaceutical trade between Nigeria and Barbados, following the arrival of AMA’s first shipment of IV fluids in Barbados in March 2026.
Additional shipments are planned for Antigua and Barbuda, the British Virgin Islands and St Lucia, as the Nigerian manufacturer seeks to expand its presence in Caribbean markets.
Barbados Pharmaceutical Inc. is also working with AMA-MED and Barbados-based Lenstec to explore opportunities for exporting Barbadian medical technology to Nigeria, creating prospects for two-way trade in healthcare products and equipment.
In a related regulatory development, Barbados enacted legislation in June 2026 establishing the Barbados Medical Products Authority, with work continuing on the institutional and regulatory arrangements necessary to support pharmaceutical manufacturing.
The proposed plant is expected to provide a foundation for broader cooperation between Nigeria and Caribbean countries in pharmaceutical production, skills development, technology exchange, regulatory capacity and access to international markets.
The partners will now proceed with feasibility studies, financing negotiations, regulatory processes and construction planning, with commercial production targeted for 2029.
